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CNN
Jan 12, 2013 6:30am PST
will come in that day. $52 billion in bills come due. if congress doesn't raise the debt ceiling, congress has to decide which of these bills to pay. interest on the debt we already owe, that's $30 billion. irs refunds, about $7 billion. federal salaries, difficult tut military paychecks, medicare, medicaid bills, defense vendors need to be paid. unemployment checks need to get cut. food stamp debit cards need to be refilled. deficit piles up into national debt. i'm joined by senior political columnist of the daily beast and mayaguinness. maya, should the debt ceiling be the place to argue about spending cuts? >> in the past, the debt controlling has been used responsibly, to help us push for making changes to the budget when we're on an unsustainable course. can you kind of think of it as a speed bump. we would hit the debt ceiling, be reminded we're borrowing too much. they would fight about raising it and then they would raise it. what happened last time, i think, was throwing cold water on to the system of how close we got to truly defaulting and the fact that that will lead to economic pr
MSNBC
Jan 10, 2013 9:00am EST
argue would be just as horrible for the markets by not raising the debt ceiling. >> no question. there was a time in history before -- before i was -- at the white house, i was assistant secretary of the treasury. hi to deal with the battles all the time with congress and negotiating. seven debt ceiling raises. white was just sort of -- everyone understood it would get raised and it was a time to remind people how big the debt was and nobody really took it seriously, press release. it was useful for that. once people started taking it seriously and said we are going to think about not paying the debt it bill absurd and it is -- it is absurd and it needs to be -- needs to go away or congress just needs to understand that that's the only use of it. a coin isn't going to solve that problem. looking at a darn corners of the constitution will not solve that problem. >> what is -- you know, the problem -- that -- republicans seem to have is it the leadership sort of knows that they really shun be playing politics of the debt ceiling. but the rank and file, they don't want any part of that. they want to play politics. >> this is the problem. this is my problem with people who are spending a lot of time, smart people. friends of ours who are spending a lot of
CNN
Jan 12, 2013 10:00am PST
another clash over raising the u.s. debt ceiling. the current ceiling was officially hit on december 31st, but like last time the u.s. treasury is using extraordinary measures to get through about late february or early march. if congress doesn't act by then, the government risks not being able to pay some of its bills. republicans seem to think the debt ceiling is a useful tool to limit how much the government spends, but that is not what the debt ceiling law is supposed to do. it gives the u.s. treasury the flexibility to borrow money to pay the government's bills without going to congress to get approval every single time. it has nothing to do with spe spending or debt control. you might want it to be about spending control like i'd like to be in "people's" list of 50 most beautiful people. wishful thinking doesn't make it happen. they can use the debt ceiling as a hostage like they attempted to use the fiscal cliff as a hostage, to get something else done, something they haven't been able to use do using the normal democratic process because that process is broken. the fiscal cliff deal puts off dealing with mandatory spending cuts until march 1st. republicans fully spend to use the debt creeling to extract concessions fro
MSNBC
Jan 12, 2013 1:00pm PST
white house must first deal with the spending and the looming debt ceiling and if congress refuses to raise the debt ceiling coming up, the u.s. go in default. that could trigger a worse economy reaction than we feared in the fiscal cliff situation. we have the latest. if republicans refuse to raise the debt ceiling there's the possibility that the president can work around the congress, but it's likely. >> there are a couple of possibilities that are being floated around, thomas. one is that the white house could use the 14th amendment, that would allow the president to increase the debt ceiling without congress' approval, and it says validity of the public debt of the united states shall not be questioned. some democrats wrote a letter to the white house on friday saying it gives the president the authority to increase the debt ceiling unilaterally, and another option that is floated is to essentially mint a platinum coin worth a trillion dollars. this is a idea that dates back to a 1997 appropriations bill that deals with the issue. the white house saying they do not believe that t
Current
Jan 4, 2013 4:00pm PST
trillion-dollar coin is the debt ceiling. congress has always raised the debt ceiling. only how have they fought the white house. well, it's for debt that the congress has incurred. it has to go up. the idea that this 3 trillion-dollar county could get them back the debt ceiling on a technicality is something that makes sense. >> cenk: so it's an absurd idea. understand first of all if they're not going to put it into circulation. if they put it in circulation then they would have inflation. but if they're not going to put it in circulation then what is. this all about? i guess it's the technicality to say technically we still have money. but if you had to actually use it. >> it means that they don't have to issue t-bills or auction off treasury bill. and the other side of this coin--literally--that was quite an accident. it would show how silly this is. >> cenk: the new york federal reserve, the main organization, is run by the top banks. we have given out our most important power to private corporations that then shockingly enough when bush comes to shove give it to themselves. wow, i didn't see that coming. it's insanity. lastly we go to the republic
FOX Business
Jan 10, 2013 6:00pm EST
raise the debt ceiling without congress? will he tried to? our handwriting expert is digitalis about the most talked-about signature. will it end up on our dollar bill? can you read that? >> from that fox business studios in new york city, it's "the willis report" with gerri willis ♪ gerri: as the debt ceiling showdown, members of the financial services round table now headed by former gop presidential candidate temple in tay are urging congress to raise the debt ceiling. failure to do so will cause a wire. will republicans caved? always great to have you on this show. what do you make of this? these and other business leaders of this country who are saying, you have to raise that debt ceiling. >> a little hypocritical. these business leaders of the same ones to say we have to do something about our enormous debt, and what will cause a wire to our nation's finances continuing to go around borrowing a trillion dollars year after year after year. the phony issue, people are saying if we don't pass the debt ceiling it's a default. that is off the table. the constitution prevents a default
FOX News
Jan 11, 2013 4:00am EST
again to raise the debt ceiling. most republicans will oppose that acting for definite spending cuts before more borrowing. does the president care? >> the only viable option here is congress to fulfill -- that congress fulfills its responsibility and ensures that the united states of america pays its bills as it has always paid its bills through the its history. >> bill: just shut up and pay. all right? don't be asking for anything, just pay. it's mr. obama's way or the highway. again, he could use an executive order to ignore the debt ceiling and i will not be surprised if he does. so, what we have here is not a failure to communicate as they once said in the movie cool hand lou. but a president who believes he can do what he wants to do with little accountability. he has already signed executive order changing immigration rules. that was done in the middle of the night. few even know about it if this continues there will be a constitutional crisis in america. unfortunately we the people are slow to understand what's actually happening here. there is no collaboration going none washington right. >> now the president is not able to persuade republicans to see it his way. now
FOX News
Jan 8, 2013 3:00pm PST
the series of budget battles when congress would be asked to increase debt ceiling. >> congress can limit the debt. and should not allow the e a budget plan from the white house. and the democratic senate. >> but they would prefer congress sort out this. >> this is not a deal that the white house is going to have. >> that will continue. >> mike emanuel live on the north lawn. thank you. >>> european union warns of new divide in continent between rich and poor. the unemployment numbers peak and the social welfare systems spray. amy kellogg has disturbing job news from london tonight. >> the euro zone unemployment average reached all-time high of 11.8%. up from 11.7 in october. in country like italy, the situation is particularly dire. youth unemployment registered to 37%. >> here they are lined up with jobs accusation center. >> i don't have any trust in my country. absolutely not. no way out. we have our backs against the wall. either you leigh, if you stay here you are condemned. >> some blame the austerity measures that led to violence across the continent for aggravating the empl
FOX Business
Jan 9, 2013 7:00pm EST
changed. let's be clear. congress has the responsibility and the sole authority to raise the debt ceiling. congress must do its job. lou: the administration does appear willing to go around congress to enact at least some gun-control measures. we will be debating tonight the administration's efforts to broaden and control in this country, talking with former birdie campaign president richard a. bourne in constitutional law professor david. vice-president joe biden today met with victims and gun-control advocates and stress the administration's determination to take action on gun-control, even by its executive order. it is the first of a series of meetings that the president's second amendment point man. fox news chief political correspondent carl cameron with our report. >> vice-president opening his first task force meeting on gun violence with victim's aunt and safety groups and somberly recalled the shooting rampage that killed 27, including 20 children at a new town connecticut elementary school last month. >> touch the heart of the american people. seeing those young children
CSPAN
Jan 9, 2013 5:00pm EST
president's insistence he would not negotiate over the debt ceiling this time around, is the white house considering revising that issue [inaudible] >> our position on the 14th amendment has not changed. let's be clear. congress has the responsibility and the authority to raise the debt ceiling. congress must do its job. it is important as we approach the deadline that people understand we're talking about. sometimes the language of the use in the phrases we use make this a lot more mysterious for average folks out there that needs to be. raising the debt ceiling is authorizing congress to pay the bills it has racked up. this is not about future spending. this is about you going to the store and charging some goods on your credit card. you pay the bill. the byner states has always paid its bills. congress has the responsibility and authority to do that. the president will not negotiate over it. let me go to reuters. jack lew was [inaudible] he worked for a group [inaudible] what that not raise flags for any treasury secretary? >> you are trying get me to about an announcement the president has not made. i will leave it to the president to announce his next treasury secretary. his record has and continues to be st
FOX News
Jan 10, 2013 5:00pm PST
have had the debt ceiling raised over 70 times in the last 50 years. congress has always dutifully done its job and raised the debt ceiling under divided congresses and divide government. democrats and congress raised the debt ceiling 12 times for president reagan upon his request. what's unprecedentside that we have never seen congress try to use the debt ceiling as a tool of negotiation. that violates. >> bill: we have a frightening amount of debt now. $16.5 trillion. and i gave you the stats up top about president obama's spending more than every other president combined. so that it's a different situation than it was under ronald reagan. now, i understand that the president can't order congress to raise the debt. he can't do that by any order. buff he can ignore it it he can -- don't worry about it keep paying stuff off. is that true? is that what he can do? >> well, that's roughly the case. i mean, they have tried to find other solutions. you have heard about mint the coin operation? >> bill: what is the trillion-dollar coin? what is that all about? >> it's a loophole if you w
FOX News
Jan 5, 2013 10:00am PST
to borrow. that of course takes raising the nation's debt ceiling. here is the president in his weekly internet address. >> as i said earlier this week, one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if congress to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic, last time congress threatened this course of action our entire economy suffered for it and our families businesses cannot afford that dangerous game again. >> jamie: that argument isn't sitting well with some members of the g.o.p. who say the real danger would be allowing the country to take on more debt than it can michigan congressman dave camp delivered the republican message. >> many of our democratic colleagues don't seem to get it. throughout the fiscal cliff discussion, the democrats and president who control washington repeatedly refused to take am i meaningful steps to make washington live within its means. that position is irresponsible and failed to acknowledge what every family in america knows, when you have no more money in your account and your credit cards are maxed out, then
MSNBC
Jan 7, 2013 7:00pm PST
want to bust for the debt ceiling, they project right now that the debt ceiling doomsday, really the final day for it would happen sometime between february 15th, and march one. either congress figures out the debt ceiling before then or things get very bad, real quick. first it means the federal government will have to default on 40% of our obligations, 40% of what we do will be gone. let's say they make decisions on medicaid, medicare, defense, food stamps, kind of just the bare services there. doing all that will mean defaulting on everything, and really i mean everything else. the fbi will shut down, people responsible for tracking down loose nuclear weapons, the court system closes its doors. the faa off line, parks closed, food safety inspections, they stop, nobody gets tax refunds or fixes your roads. it is bad, second, meanwhile, too, the financial markets will go into complete chaos, u.s. government debt is after all the safest investment in the world, so it is used as the benchmark for all other types of debt. what that means, when you buy a mortgage the government looks at what it pays to borrow and begins your estimate there. if we spike the treasury rate because nobody
FOX News
Jan 6, 2013 7:00am PST
wants to raise the debt ceiling. you have conservatives in congress saying we're not afraid to let the government shut down. they're starting on the opposite sides of the court and they'll move towards the center, if there's a deal. >> the president says he's willing to talk about more spending cuts as we discussed. not only the debt ceiling but also the sequestration, which is still on the table. that was pushed two months down the road and has to be dealt with but the president says he's not going to talk about that without discussions on more revenue, perhaps more tax hikes. is that on top of the ones with the fiscal cliff deal? >> when you borrow money and raise offsets. the president made it clear he wants that to come from revenue. the next thing they need to look at is spending cuts and congress is going to push for that. especially given the president got pretty close to what he wanted in the last fiscal cliff fight. it's going to be hard to ask for more for taxes getting raised. >> i remember george w. bush coming out in his second term talking about political capital he e
Current
Jan 4, 2013 3:00pm PST
. after the break, nuclear options to avoid the debt ceiling. if congress won't work with the president, perhaps he should just go around it. and we'll tell you what people are talking about. plus money talks and while the nra may not be listening, trust me the companies who enable their reckless policies will. and later john boehner has been crying again. and i'll tell you why i differ when it comes to the speaker's pension for opening up the flood gates. that and more just ahead in "the war room." what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ ♪ rich, chewy caramel rolled up in smooth milk chocolate. don't forget about that payroll meeting. rolo.get your smooth on. also in minis. ♪ >> jennifer: the next fight is alread
CNN
Jan 4, 2013 1:00pm PST
after the president insisted he will not negotiate over the debt ceiling. >> i will not have another debate with this congress over whether or not they should pay the bills that they have racked up through the laws that they passed. >> reporter: if the president won't come to the bargaining table one top republican says it may be necessary to partially shut down the government in order to secure the long-term fiscal well being of our country. >> the yeas are 354. >> reporter: a preview came in the house where 67 republicans including paul ryan voted against $9.7 billion in aid for victims of superstorm sandy. >> shame on you. shame on congress. >> reporter: the fact that the rest of the storm relief is up in the air was a let down for new york and new jersey lawmakers, even the freshmen. >> i'm new here i don't know all the rules of washington but it seems like the rule here is to put off until tomorrow what should be done today. >> reporter: it was a return of the reality of broken government in washington. vice president joe biden was sworn in and hamming it up with their loved ones. we asked the vice president
FOX Business
Jan 10, 2013 11:00pm EST
the debt ceiling. in congress, those of us in the congress, granted him his wish. we never tried to deny him the ability to pay our bills. i want to do it now because this congress, at least this house of representatives would like to see is the default on our obligations. that is why i think the president ought to do it himself. if congress refuses to do so. neil: i don't know about you, you are in this camp, many of your colleagues when president bush was around, they were on the brink a number of times arguing about what he was doing. bringing us ultimately to default. isn't the issue what brings us to this point time and again? fifty some odd time since world war ii? if the underlying spending. it seems like you guys are going through hoops to avoid the underlying problem. and that problem is spending. >> spending may be a problem. but what do we spend the money on? we spend this money to fund two wars that we never paid for. we have never knock on the war and made sacrifices tax wise or otherwise to pay for it the one what about the $5 trillion that we spend since that time? yo
MSNBC
Jan 6, 2013 9:00am PST
with the congress. he has said he will not negotiate around the debt ceiling. at the same time, republicans feel like they have much more leverage in this debate. they felt like they were kind of on the losing end of the last fiscal cliff fight with their position that could have caused some tax increases on everyone, including middle class americans. so they were in a tough spot. they feel like this is an issue where they have more public support. the issue that we need to cut spending and that we shouldn't just keep raising the debt ceiling. so those are the dynamics going into that fight. add into that that speaker boehner is in a somewhat weakened position coming out of a tighter than expected fight for him to be reelected speaker. he will be speaker again but had to overcome some dissension in his own ranks to get in that position. and it's not just the debt ceiling fight. rolled into that was the sequester, which was pushed back only two months as part of the fiscal cliff deal, and we have part of a government funding bill that's going to expire in march. we have a lot ro
CBS
Jan 11, 2013 1:35am EST
sometime next month unless congress raises the debt ceiling. and government agencies are only funded until march unless congress gives them more money, they're essentially out of business. >> the fact is looking at all three of those, we have no idea what the hell is going to happen. >> reporter: the defense secretary is seriously worried. >> this fiscal uncertainty has become a very serious threat to our national security. >> reporter: and fears the pentagon will be forced to make budget cuts -- >> which is to hollow out the defense force of this nation. >> reporter: defense contractors in the washington area solve military problems -- >> ground penetrating radar provides an image into the ground that you can recognize very explosive hazards. >> reporter: this company in virginia makes the device but there's now a company hiring freeze with much new development on hold. >> we're totally in an uncertain place. >> reporter: steve charles is cofounder of this company in mclean. >> we actually are growing. we've expanded. we have continued to grow. but if there is a shutdown that would be an abrupt stop. >> reporter: co
PBS
Jan 4, 2013 1:00am PST
we hit the debt ceiling and when the automatic spending cuts come into play again, and either have to be replaced with other spending cuts, or again, kicked down the road. >> reporter: these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. and, the fact of the problem of $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter: some also worry the down-to-the-wire theatrics of these fiscal debates in washington will overshadow other issues that need to be addr
NBC
Jan 4, 2013 4:30am PST
not to raise the debt ceiling again unless congress cuts spending. >> the first step in this debate is for democrats to get over their fanatical commitment of spending every dime the government got its hands on. it has to stop. >> a future budget agreement must balance thoughtful spending reductions with taxes on the wealthiest among us. >> reporter: it is expected to hit its borrowing limit again in february, another fiscal cliff, round two, begins today. also on their agenda overhauling the tax code. tracie potts, nbc news, washington. >>> futures are down slightly ahead of big economic numbers due out today. toyota and audi want to let your car doing the driving for you. for more on that and the rest of your news before the bell, we turn to brian shactman live at cnbc world headquarters. good morning. >> reporter: good morning. futures have improved a bit. basically flat ahead of the big economic report of the day, the december jobs number. analysts expect another month of slow but steady growth but not enough to call it a turning point for the economy. forecast call for 160,000
FOX News
Jan 12, 2013 3:00pm PST
separation of powers playing out over the debt ceiling. four leading democrats urging president obama to consider doing an end run around congress by raising the nation's borrowing limit without congressional approval. does the president have this authority? what could democrats think if the party dynamics were reversed? bringing in our political panel, mercedes, former spokesperson for president george w. bush, and richard goodstein, the democratic political consultant and former advisor to hillary clinton for president in 2008. good to see both of you. >> thank you. >> arthel: mercedes, you first. should president obama invoke the 14th amendment protection and bypass congress and do you think raising the debt ceiling is good or bad for the good of the country and tell me why? >> it would be unwise for president obama to basically bypass congress. as we know in the constitution, it clearly states that congress has the power of the purse. so it is their responsibility to deal with the debt ceiling. if we give the president this raw power grab, i think it would have a huge negative effect, in fact, a constitutional crisis, and it wo
CNN
Jan 5, 2013 4:00am PST
. the debt ceiling is the legal limit on the nation's borrowing. in his weekly address the president says he is taking a hard line on the issue. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time the consequences for the entire global economy could be catastrophic. last time congress threatened this course of action our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >>> as you would expect, republicans are also drawing a line despite approving the fiscal cliff compromise. gop lawmakers say it was missing something monumental, long-term spending cuts. here is a clip of their weekly address. >> the simple truth is that we are in this fiscal mess because washington takes too much of your money and then wastes it. that's the real problem. it needs a real solution. we have to make sure washington is accountable for every tax dollar it spends. we have to make sure your money is spent efficiently and effectively. >>> veipresident hugo chavez is quote, fighting for his health right now. despite ru
MSNBC
Jan 12, 2013 4:00am PST
, the debt ceiling debate. what is the chance president obama will bypass congress and raise it himself? you're watching "weekends with alex witt." from psoriatic arthritis hit, even the smallest things became difficult. i finally understood what serious joint pain is like. i talked to my rheumatologist and he prescribed enbrel. enbrel can help relieve pain, stiffness, and stop joint damage. enbrel may lower your ability to fight infections. serious, sometimes fatal events including infections, tuberculosis, lymphoma, other cancers, nervous system and blood disorders, and allergic reactions have occurred. before starting enbrel, your doctor should test you for tuberculosis and discuss whether you've been to a region where certain fungal infections are common. you should not start enbrel if you have an infection like the flu. tell your doctor if you're prone to infections, have cuts or sores, have had hepatitis b, have been treated for heart failure, or if you have symptoms such as persistent fever, bruising, bleeding, or paleness. [ phil ] get back to the things that matter most
FOX News
Jan 9, 2013 3:00pm PST
try a political end-around congress on the debt ceiling? humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else comes standard at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? ♪ ♪ we're lucky, it's not every day you find a companion as loyal as a subaru. love. it's what makes a subaru, a subaru. >> bret: 11 people were hurt when a commuteer ferry slammed in a dock in the financial district. it happened at the pier in southern manhattan. 330 passengers and crew were aboard the ferry. around 50 suffered minor injuries. no word yet on police say the ferry crew passed alcohol-breath tests. house democrats throw out the first jab in what is expected to be a political fistfight over the debt ceiling. the president has the authority to circumvent congress and raise the bar rowing limit on its own. -- wor rowing limit on his own. the >> reporter: the battle over raisi
CSPAN
Jan 10, 2013 9:00am EST
running out of options to avoid breaching the debt ceiling. so we could be, if congress does nothing to increase the debt ceiling by then, we could be looking at a government default. not -- even if it's not a government default on our debt. even if the treasury says we're going to prioritize principal payments, we are still looking at a default on our government obligations. that means that the treasury, the government and the department of defense included, would have the ability to go out and spend money. the treasury would not be able to write the checks to pay the obligations that those agencies have made. so that could include, you know, dod civilian, uniform military, contractors. they would be expecting a check in the mail or deposited in their account, and it just wouldn't show up. you know, that would be true for all the nondefense parts of the budget as well; social security recipients, medicare, doctors expecting reimbursement. the checks just wouldn't show up for about 40% of the dollars the government was supposed to pay out if we actually go into a default situation. obvi
MSNBC
Jan 5, 2013 9:00am PST
about the debt ceiling there for a minute, i'm a long opponent of the debt ceiling. i think anybody who has worked in an administration, you know, opposes the idea of a debt ceiling and congress sees it differently. it's not going to be between john boehner and the president, it will be a negotiation between the house and the senate to be able to come together to deliver a bill to the president. that's why the president is actually in a strong position to say he's not going to negotiate because, you know, two divided of congress are going to have to negotiate with each other to deliver that bill to the president, so that's where the negotiation will take place. but if boehner feels like he can accomplish something on the spending cut side in that negotiation, then he'll come out a little bit just fine i think. >> you know, karen, do you think the president's in a stronger position for having his vice president, joe biden, on his team? i mean, look at what he did during the fiscal cliff fight last weekend, do you think he'll be used in the debt ceiling debate? >> absolutely. biden has on a number of occasion really been the key figure in some of these negotiations. although i do wa
CBS
Jan 3, 2013 7:00pm EST
a couple of months from now probably in late february, early march, when we hit the debt ceiling and when the automatic spending cuts come into play again and either have to be replaced with other spending cuts, or again, kicked down the road. >> reporter: these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. that's scary. and, the fact of the problem of $2 trillion solutions to $60 $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of the political class here in washington. >> reporter: some also worry the down-to-the-wire theatrics of these fiscal debates in washington will o
NBC
Jan 10, 2013 11:00am EST
was involved in the debt ceiling with congress back in 2011 and, of course, the recent fiscal cliff talks. republicans aren't excited about the pick but it's unlikely they'll be blocking that nomination. keith, back to you. >> all right. thanks hampton. >> you got it. >>> we introduced you to a wonderful young man who was really hoping a family would come forward to adopt him after his appearance on "wednesday's child" last spring. we think the right family didn't happen to be watching so we want you to have an opportunity to meet ronald again. there was a chef's coat and an apron and finally, the making ronald ready for his first real lesson in cooking. >> you ever worked with pan he ta before? >> this chef of the art institute of washington's culinary school was giving ronald, an aspiring chef, a lesson in making pasta carbonera. his social worker says being a chef is one of the dreams that he has for the future. but she says he'd really like a future that would include an adoptive family. >> he's a sweet kid. the thing that's so amazing about him is he really wants to do well and
FOX News
Jan 7, 2013 1:00pm PST
opening for the president to raise the debt ceiling without congress saying a peep. now, we couldn't get lincoln and we couldn't get nancy but we did get danny as an illinois democratic congressman danny davis who is fine with all of this. good to have you. thanks for coming. >> well, thank you very much. you know, i agree that lincoln was a bold president and he made some bold and tough decisions and that is why many people think he was one of the best presidents we ever had. >> neil: i would agree he but i would -- i would hasten to add i don't think he would be onboard with playing games with constantly raising the debt ceiling, do you? >> i don't think that we are are constantly raising it but i do believe and i agree with -- >> neil: well, we have done it 52 times in the post war period, right? >> we have done it but we always paid our debts and we don't quibble about paying debts. it is something that we know we have to do. we make them and we must pay them. >> neil: congress appropriates the funds and you can't come back later on and say we are not paying. i do see the wisdom
MSNBC
Jan 5, 2013 11:00am PST
, delivered the weekly address in which he talks about the upcoming fiscal fight over the debt ceiling and drawing a hard line with congress saying he's not going to negotiate with them and house speaker john boehner drawing a hard line as well saying he'll use the debt ceiling debate to try to cut spending. so it looks like we are gearing up for another big battle, craig. this vacation will not last very long. >> kristen welker with a whole lot of day left in hawaii. i expect you have plans as well. good luck, kristen. >> thanks, craig. >> out with the old and in with the new. we're not just talking about out with the old and in with the new. we're not just talking about the fights on the horizon that will include a few familiar faces and washington post ed o'keefe, good afternoon to you, gentlemen. >> gentlemen. >> ed, the end of 2012, all about the fiscal cliff. right now we're talking about the debt ceiling discussion ahead. how tough of a fight is president obama going to be coming home will to? >> oh, a very tough one because republicans now determined more than ever to get spending cuts as part of the fiscal deal on the fi
ABC
Jan 5, 2013 8:00am PST
national debt ceiling but he wants congress to raise the debt limit. lawmakers threatened inaction on that and credited rating was downgraded. >> as i said earlier this week, one thing i won't compromise is congress should pay for a tab they already racked up. if congress refuses to give the ability to pay bills on time, global economy could be catastrophic. last time they threatened this action our entire economy suffered for it. >> katie: the republican response by michigan congressman dave kemp, it's i'm to identify responsible ways to tackle wasteful spending. >>> white house officials say president obama is expected to nominate chuck hagel of nebraska to be defense secretary. >> the scandal over hidden cash has taken a new turn with release of a scathing report. it turns out the money was hidden for more than 12 years. capitol core dental nannette miranda explains. >> 70 state parks were scheduled to shut down last summer because of budget shortfalls but just as the closures were about to happen a surplus of $54 million was found hidden in two of the agency's funds. accounting er
CNN
Jan 8, 2013 8:00am PST
this? >> well, you have to raise the debt ceiling. by law congress can only spend so much money and rack up so much debt. we hit that ceiling on february 15th according to the policy center. on that day, the inflow into the treasury coffers, $9 billion. imagine this like your own checkbook. on that day you have $52 bill chron in bills due. >> we've got a big -- >> so break that down for me. in that set of bills, what's due that day? >> well, the biggest part of that committed spending is $30 billion interest on our debt. we have to pay the interest, or we are in default of our obligations. we borrow money every day just to run the country as it is. >> just look at that top picture you have about 30 billion would be the mortgage payment and all of those littler numbers would be the expenses. >> these are things that people wee lie on. it's a friday, it's payday, so federal salaries and ben felts. medicare and medicate, defense vendors going paid on the 15th. these are things that in theory, if you don't raise the debt ceiling, the government could have to give you an iou instead of m
CSPAN
Jan 9, 2013 12:00pm EST
negotiate the debt ceiling the next time around is the white house considering revisiting the issue -- >> our position on the 14th amendment has not changed. and let's be very clear: congress has the responsibility and the sole authority to raise the debt ceiling and congress must do its job. and i think it's important as we approach to the deadline of the debt ceiling that people understand what we are talking about. because sometimes the language we use and the phrases we use here in washington make this a lot more mysterious for average folks out there than it used to be. raising the debt ceiling is simply authorizing congress to pay the bills that it's already racked up. this isn't about future spending. this is about you going to the store, the department store, and charging some goods on your credit card. you've made those purchases. the bill comes. you pay the bills. you don't tear it up and decide you're not going to pay it unless you get what you want from store management. you pay your bills. and the united states has always paid its bills. congress has the responsibility and the authority to do that, and the president will not negotiate over it. let me go to -- >> -
FOX Business
Jan 4, 2013 9:00pm EST
too much to take. talk about the do nothing congress. the debt ceiling and this week people are getting paychecks for the first time. >> people will be surprised the president said if you make less than $250,000 you will not pay one dime. they are paying a lot of times. making $50,000 will be on the hook of additional $1,600. you don't have that to give the government so they can waste it to borrow more money. it will hit people hard. ha and then add the obamacare tax and the economy will be in a world of hurt. gerri: maybe there is a tax revolution. people may make calls to congress. who knows? >> i do think there will be a revolt from people who voted for obama that would only hit the nasty rich people. but it will hit them. in and they lose their jobs because the rich guy cannot keep people on the payroll is pay the government or keep the employee. he makes the decision about the employee but not the taxes or he goes to jail. gerri: we had jobs numbers today. 155,000 jobs were created. that is so unimpressive. if we don't create 240,000 jobs we cannot keep up with the number
FOX Business
Jan 5, 2013 5:00am EST
to kick into gear late next month. and then the debt ceiling. democrats won permission to spend more money in march. congress has the constitutional authority to set our debt ceiling and has agreed to raise it. watch for a big fight as republicans try to institute some sort of fiscal sense that democrats resist. the big events, but there is another one that happened today that congress did not pass a resoluti to recognize that happened. you probably already know about it. the payroll tax has expired, and if you et your first paycheck today says the fiscal cliff, well, watch out. you may be shocked by then nearly 50% increase in the tax. the social security withholding tax reset. for middle-class american families earning $50,000, that means at least in $800,000 tax hike, maybe as much as a thousand bucks. if this is the first shot of about, it's not going over too well. here's what people are saying on twitter. if you're asking why my pacheck is less this week, is because you got what you asked for. on it. why is my pacheck bless thi we? because obama loves to penalize the makers and redistribute to the takers.
FOX
Jan 5, 2013 10:00pm PST
president obama's weekly addressed focused on his next challenge with congress, the debt ceiling. >> one hing i will commote compromise is lightning congress should pay the tab for a bill they already wracks up. if congress refuses to gift united states the ability to pay its bills the consequences could be catastrophic. republicans say a deal must include spending cuts, but the g.o.p. is not unified in its own strategy. yesterday former president candw commented. >>> google said the decision to block map was to ensue a good user experience and not about exceptionally interfering with a rival product. according tot tech site google is working on a redirect so window users can use the map service. >> some homeowners on storm- ravaged staten island, new york are furious that going is touring neighborhoods, photographing damaged homes for it's 360-degree map technology. google says it's updating the photos to "help people around the world better understand the extent of the damage. google says it plans to revisit affected areas and take more pictures to show the recovery progress over time. >>> inside sources say the national hockey league lockout c
MSNBC
Jan 12, 2013 12:00pm PST
debt ceiling without congress. they say they're not going go that route and here's where it gets complicated and he's not going to negotiate with congress and it begs the question if he's not going to negotiate with congress, how will it get resolved and republicans are digging in their heels saying they will not increase the debt limit unless it is offset with the equal amount dollar for dollar cuts in spending. democrats say they're not going agree with that because it will likely target entitlements and that is where these battle lines are being drawn and thomas, this is a similar fight that the white house had with congress in 2011. the white house back then was asked about invoking the 14th amendment and the white house said they were going to use it and they, in fact, never did. they had democrats from outside of the white house and former president bill clinton, for example, who said the 2011 battle that the president should invoke the 14th amendment and just increase the debt limit unilaterally. of course,a i lot is at stake. when they talk about the boehner rule, but wha
FOX
Jan 5, 2013 6:00pm PST
next challenge with congress. the debt ceiling. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they have already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire economy suffered for it. >> republicans say a deal must include spending cuts, but the party isn't unified on that strategy. yesterday, former presidential candidate newt gingrich called a potential showdown over the debt ceiling a, quote, dead loser for the gop. >>> a new kind of air ship built in southern california is almost ready to fly for the u.s. military. construction of the aero craft at a tuscan facility is complete. the company's worldwide aeros just released this video of the giant blimp-like craft in meetings. it combines airplane and air ship technologies and the military hopes to use it to deliver cargo around the world. >>> for most people, disposing of an old christmas tree means putting it out on the s
CBS
Jan 3, 2013 11:00pm EST
. the budget and then the debt ceiling. all grounds that play to the gop. >> when the president says that he will not negotiate over the debt ceiling that this is money that congress has already spent. pay your bills. is the gop really willing to shoot america's credit rating in the end? >> well is he willing to damage our credit rating to keep spending money that he doesn't have? >> it is a fight that has been going on since the presidency. and they plan to keep fighting. >> one democrat wrote in the newspaper today that when they voted to raise taxes, it rendered their anti-tax pledge. >>> new tonight at 11:00, a maryland woman vacationing in jamaica has died. she was 34-year-old vanessa brown riding in a car that slammed into a minibus. no one on the bus seriously hurt as the crash is under investigation. >>> the high school student is in critical condition tonight as they believe that the 18- year-old was pulled out of the school parking lot and ran smack into the path of the mac truck. four other students were also in the car as they are in the hospital. but their injuries are non-life threatening. >>> an update on the zoo director who drowned a view. the zoo dir
KRON
Jan 5, 2013 7:00am PST
country's debt. and that includes making sure that congress lives the federal debt ceiling. >> the last time congress threatened this the whole economy suffered. our families and businesses cannot afford this. >> the nation's credit rating was downgraded last year when lawmakers threatened in action on the debt ceiling. on the republican side, representative dave camp from michigan set america's credit cards are maxed out. he stated that there is no money in the bank, so we have to stop spending. >> we do have rain on the rway it will also increase throughout the day. in the north bay it will grow more into the evening. satellite and radar shows there is a cold front approaching. it will push its way into our area in the afternoon. by 1:00 p.m. it will make its way to santa rosa. off by 3:00 p.m. it will cross over the golden gate bridge. by 6:00 p.m. it will increase in intensity. it will be moderate the downpours and the heaviest rain will push them by 7:00 p.m.. by about 11:00 p.m. we still will be bill wet weather. it was still be showers along the san mateo) coast. >> it is mid 30's and santa rosa and it i
MSNBC
Jan 3, 2013 5:00pm PST
people about the president and the debt ceiling. according to the united states constitution, congress is the only branch of government with the power to tax or spend. mitch mcconnell knows this. the debt limit is not part of the constitution. you know what it is? it's a statute from a 1917 law about liberty bonds. according to the statute, well, only congress can raise the debt limit. so if the debt limit is raised, the president can't spend more money, can't do it on his own. we're talking about money that has been borrowed, appropriated and spent by the congress. mcconnell's lie is being spread by other congressional republicans. >> the fact that the president is making unprecedented power grabs for the executive branch and now not only wants the authority to make laws through the rule-making process but wants the opportunity to borrow money in unlimited amounts anytime and anywhere he chooses. >> listen to this republican congressman misunderstand what a blank check is while saying the president has unilateral power over the debt ceiling? >> the president really asked for a blank chec
NBC
Jan 5, 2013 11:00pm PST
lift the federal debt ceiling. in his weekly address, he said he will not compromise on the issues. >> if congress refuses to give the united states the ability to pay its bills online interesting consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> the nation's credit rating was downgraded the last time lawmakers threatened inaction on the debt ceiling in 2011. >>> a whale of a price for a high quality tuna. a bluefin tuna was sold for the egive lenl of $1.7 million in auction in tokyo. the major of the sushi chain was the buyer. he said although the fish was of the highest quality and color, he was surprised at that high purchase price. the fish has already been shipped to the sushi chain where a few lucky customers got a taste. no word on whether it was worth the price. >> strong swimmers proved today that it is possible to escape from alcatraz. today was the sixth annual alcatraz winter swim. people of all ages braved the wate
FOX News
Jan 6, 2013 9:00am PST
get into a fight over the debt ceiling. let's listen up to that. >> i will negotiate over many things. >> i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up through the laws that they passed. >> as much as people have expected a desire to come together, i have seen polar opposite statements. >> i think you are going to have a healthy debate. i think the president, whether he wants to be involved, he should be involved. and i think for the administration's sake, he should be involved and will be involved. but this is debatable. this is a big thing. are we going to continue to spend, spend, spend? and borrow, borrow, borrow? that's what the debate's going to be about. what leverage does the republican party have? you control one house of one branch of government in there is only a limited number of things we can do. >> in the senate, we can debate. we do have 45 senators. if we stay together for the right reason and that is to say, look, this is the time we have to say no unless we can get some cuts. the president could have come to the table before. he didn't. the qu
FOX Business
Jan 12, 2013 6:00am EST
, the same president who supported saying the constitution allows him to raise the debt ceiling on his own, again, congress be damned. add it up, i'm telling you, barack obama is doubling down. and here's the kicker. with plenty of compliant democrats in congress to help. but those democrats might regret what they're aiding and abetting, because they're the ones who'll be fumbling and fuming. when nancy pelosi pushes the 14th amendment to give the power to bypass congress, she is giving him the power to bypass her too. you don't need a trillion dollar magic coin to realize this is nothing less than a high stakes power grab. now, it's not unusual for presidents of either party to try. it is very unusual for so many in both parts to lay down and let him do it. all right, here to hash it out, constitutional expert ilya shapiro and sabrina schafer as well as "the wall street journal"'s steve moore. steve, a disturbing series of events, to put it mildly. >> no question about it, neil. and, look, we have a three-branch system of government in washington. the president is the chief of the executive branch, that mean
CNBC
Jan 11, 2013 7:00pm EST
congress and increase the debt ceiling. but he cannot legally or constitutionally do that. john boehner reacts by saying washington must stop spending money it doesn't have. >>> speaking of sequester spending cuts, defense department is gearing up, so is homeland security. and the tsa. did you get your paycheck today? notice something missing? the payroll tax holiday is over. will this middle class tax hike really damage the economy? "the kudlow report" begins right now. >>> first up tonight, a developing story. four democratic senators sent a letter to president obama late this afternoon. they want him to use any means necessary to raise the debt ceiling without republican house spending cuts. that's right. cnbc's eamon javers has the details. >> reporter: let me get right to exactly what that quartet of senators said. in their letter to president obama which was viewed widely as shoring up his left flank in the political debate over the debt ceiling. what they wrote was "we believe you must be willing to take any lawful steps to ensure that america does not break its promises and trig
KRON
Jan 4, 2013 11:00pm PST
with congress over lifting the debt ceiling. >> will not play that game. >> the president might not want to have this debate but he is going to have because this is what the country needs it. >> is there a magic bullet to solve the crisis? " what a magic going. some legal scholars are suggesting a one trillion dollar platinum coin you could be minted. if they could use that to pave the debt. to pay the debt-- and it sounds silly but it is absolutely illegal. >> why do think that it is a a? >> i think that it is better than a government shutdown or the bad alternatives. >> technically it appears to be legal. the u.s. government print money but how much paper can be in circulation at one time portholes so they would limit the denominations that gold, silver, copper could be but there's no limit on platinum. the president can issue a platinum and they can print it one trillion dollars. the president can be ordered that the deposited into the federal reserve. >> when the treasury writes checks the will catch them. >> the money would never be in public circulation disorder would not caus
CW
Jan 5, 2013 10:00pm PST
raising the debt ceiling to avoid a government default is a problem for congress. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. >> reporter: top advisers say the president will never again like he did in 2011 get pulled into that debate. but republicans want a fight tying the debt ceiling to spending cuts required by the fiscal cliff. >> we're crushing today's small businesses and the next generation of americans under a mountain of debt. >> reporter: they see an opening at the end of february when the debt limit now $16.4 trillion comes up as to mandatory spending cuts in the tens of billions. >> it's time to face up to the fact that our nation is in grave fiscal danger. grave fiscal danger and it has everything to do with spending. >> reporter: with income taxes raised republicans contend they now own the spending cut debate. to complicate matters they wi
KRON
Jan 6, 2013 11:00pm PST
time over raising the debt ceiling. if an agreement isn't reached by late february or early march, the united states risks defaulting on its financial obligations. the argument this time around will be over how much congress will agree to cut spending. >> "the bottom line is we can't continue down the path we're on of borrowing money to pay our own debt with, and we've got to have serious spending cuts. we've got to have dollar for dollar within the same year." >> reporter: >> reporter: but key democrats say the debt limit and spending cuts are not related, and a deal based on a dollar-for-dollar offset could further damage the country's credit rating. >> "you're going to say i'm not going to pay my bills unless you stop buying stuff? then stop buying stuff so you don't have future bills. but right now we have to pay the bills that have been incurred. if you want to say cut spending for what we do next, fine. but don't tie it to the debt >> "a big part of balancing this budget is in fact getting people back to work. that balances us twice, so that's another big piece of >> reporter: president obama has said he will not negotiate with congress on whether they should pay their bills. some republicans are now cri
FOX Business
Jan 12, 2013 3:00am EST
try to unilaterally raise the debt ceiling without approval of congress. and that is the scuttlebutt right now in washington, that the president is simply going to do it whether congress authorizes that extension or not. neil: you know, sabrina, it's odd that this is occurring the same week we saw the movie "lincoln" honored with 12 oscar nods. of course, a lot of people point to the fact that abraham lincoln, you know, habeas corpus went way after and way beyond what constitutional powers he was granted, and critics say this president is, essentially, doing the same. i always remind people with this flippant comment, i knew abraham lincoln. abraham lincoln was kind of an historical friend of mine. this guy's no abraham lincoln, nor are the circumstances the same. what do you say? >> you're exactly right. the difference is abraham lincoln had his priorities in order, and one of the re problems with president obama is his priorities seem to be a mess. instead of talking about spending control, we're talking about gun control. instead of talking about solid, long-term economic solution
CSPAN
Jan 6, 2013 11:15pm EST
went out to the brink of the debt ceiling crisis before compromise was reached which was routine in the past. so we thought that by focusing on congress whose popularity is at an all-time low, john mccain said you can account for the 9% popularity of congress during the debt ceiling crisis by blood relatives and paid staffers. we felt by focusing on congress we could both diagnosed the problem and give some prescriptions for how to overcome it. >> which of those prescriptions? >> one of those prescriptions is very simple, which is congressmen need to exercise leadership by mixing my and sets, by putting aside the campaign mindset won enough to govern, and adopting the compromise and might set. in order to do that, they have to have relationships so they should spend more time in washington and less time raising money. and people would say but that is going to hurt them in the next election. we say politicians didn't enter politics just to stand on principle. very few people think that politicians were attracted to politics because they were the most principled people in the population. they were attracted to politics because they want the g
FOX News
Jan 6, 2013 1:00pm PST
ahead is the battle over the debt ceiling, the credit card limit, to pay for all of the government spending. we hit the $16.4 trillion limit last week. the president is telling congress to raise the debt ceiling without a fight. >> i will negotiate over many things, i will not have another debate with this congress over whether or not they should pay the bills they have already racked up through the laws they passed. >> that is stirring up lawmakers with domes backing the president saying there is no need to discuss racing the debt limit while republicans are saying the country needs to pull in its spending and not continue to raise the debt limit again and again. >> the president does not want to debate this because if i was the president of the united states and presighed over the four annual highest deficits in united states i would not want to talk about the issue. this is not about future payments but about paying bills already due. this is like we get up and say we will not pay our mortgage. that is reckless and irresponsible. >> congress has two months to fix the debt ceiling problem before the united states may is to default on its bills. >>gregg: another fox ne
MSNBC
Jan 5, 2013 2:00am PST
not lifting the debt ceiling. and you're right, mike, all this is about, as the president said, is paying for the bills that congress has already voted to fund. and it's not lifting the debt ceiling to pay for future spending. it's to pay for the bills that we've already accrued. but regardless of that, regardless of that, the people want us to get together and do something. it's why i was sad to see steve decide not to run for re-election because we need republicans, we need more republicans who are going to stand in there and say, yes, spending is the issue, but we've got to realize that we've got to have reasonable revenue that comes into the mix, and we've got to look at everything. when it comes to spending, defense cannot be a sacred cow. we have to look at everything, and we have to have legitimate entitlement reform. and on our side, mike, we have got to do this. i was on "the cycle," one of msnbc's shows, and i suggested that raising the age on medicare given the fact we're living longer isn't a necessarily bad idea. the three progressive hosts, you would have thought that i proposed treason to the american gov
MSNBC
Jan 6, 2013 4:00am PST
not lifting the debt ceiling. are you right, mike. all this is about as the president said is paying for the bills that congress has already voted to fund. and it's not lifting the debt ceiling to pay for future spending, it's to pay for the bills we've already accrued. but regardless of that. regardless of that, people want us to get together and do something. that's why i was sad to see steve decide not to run for re-electi re-election. we need republicans, more republicans that will stand in and say, yes, spending is the issue. we have to realize we need to have reasonable revenue in the mix. we have to look at everything. when it comes to spending, defense can't be a sacred cow. we need legitimate entitlement reform. i was on "the cycle" one of msnbc's shows, and i suggested raising medicare since we're living longer isn't necessarily a bad idea. the three progressive hosts, would you have thought i proposed treason to the american government. >> congressman, let me ask you about your next endeavor. politico pointed out, the republican party has a primary problem. gop primary voters have become so conservative,
MSNBC
Jan 12, 2013 9:00am PST
reduction and don't go past by breaking up that debt ceiling. i work with phil gingry in congress. i really liked him. he actually worked with me on helping veterans try to get more physical therapists and also occupational therapists. this is one where any word in front of the word "rape "except heinous or outrageous is an outrageous wrong. but i did want to say i have worked with him on a number of issues to try to further help people coming home from the wars. >> i appreciate your even-handed comments. it looks like you're agreeing with kevin madden republican strategist. good to see you both. >>> in today's office politics, my conversation with nbc's peter alexander. peter spent last year covering mitt romney's presidential campaign. after months of almost around the clock being on the trail, peter has some great behind the scenes stories to share, including the campaign's immediate reaction to the governor's election night loss. but first, i asked peter about the challenges of reporting on the big stories and those several nuances each day wherever he found himself. >> it was an
PBS
Jan 8, 2013 12:00pm PST
did not tackle the impending debt ceiling, a debate that will likely consume congress in the months ahead. joining me from washington, david leonhardt, he is the washington bureau chief of the "new york times." from chicago, austan goolsbee, a professor at the university of chicago booth school of business and previously chairman of the president's council of economic advisors. i'm pleased to have both of them back on this program. david, let me begin with you and tell me exactly where you think we are having that january 1 up to the last minute deal. what is the order of business for the executive branch and the legislative branch to do something to develop some sense of predictability and certainty and a road map for the future. >> well, we just missed a pretty substantial opportunity thief happen because i think the bigger deals that were on the table that president obama and speaker boehner were talking about would have removed some of these up coming deadlines, like the debt ceiling. and they didn't get one of those bigger deals. instead they got something in which obama won a
FOX News
Jan 9, 2013 7:00pm PST
, more balanced budget coalition. >> greta: let me talk about the debt ceiling. there's some discussion about the president, the white house suggesting that they don't have to go to congress to raise the debt ceiling, they can instead rely on the 14th amendment of the constitution. and i did research going back to when this debt ceiling business started, basically in 1917. what it was to give some more ease to the white house to borrow money, it was not to give the white house a blank open credit card. and so, now though, the president says doesn't matter about this 1917 law, i'm just going to do it because the constitution says i can? >> well, he can try to do that. i think it would be a disaster on a number of fronts. president obama's strengths is when the congress is saying no and they're involved in some kind of a fight and he's saying, let's do the right thing. for the president now to step in and create a proposal that goes back 150 years and to say something no president has ever said, that the president of the united states can unilaterally create debt, i think would be taking a pretty big burden and would isolate him pretty rapidly and people around the world would
MSNBC
Jan 10, 2013 3:00pm EST
without, you know, the consent of congress. this is a way around the debt ceiling if everything reaches a dead end there. is there an indication -- some people are saying carney in the briefing did not, you know, rule this out all the way. is there any indication this is on the white house's radar? >> doesn't seem to be. i mean, the white house isn't even open to the 14th amendment saying the president could raise the debt ceiling and indicates the president could raise the debt ceiling without the consent of congress. doesn't seem like they'd be open to something like this but covering it for three years, i really i guess i wouldn't be surprised if anything happened but this is not gaining real traction on capitol hill. and it's tough to say what kind of -- what this kind of -- what people are calling a gimmick means for the negotiations. republicans across the board blasted this idea and doesn't seem realistic especially as you said there's issues and not only debt ceiling, sequester and government funtding so if the president wants a deal on any of those, making a new coin to raise t
MSNBC
Jan 10, 2013 12:00pm PST
the 14th amendment saying the president could raise the debt ceiling and indicates the president could raise the debt ceiling without the consent of congress. doesn't seem like they'd be open to something like this but covering it for three years, i really i guess i wouldn't be surprised if anything happened but this is not gaining real traction on capitol hill. and it's tough to say what kind of -- what this kind of -- what people are calling a gimmick means for the negotiations. republicans across the board blasted this idea and doesn't seem realistic especially as you said there's issues and not only debt ceiling, sequester and government funtding so if the president wants a deal on any of those, making a new coin to raise the debt ceiling probably wouldn't bode well for the totality of those negotiations. >> i would say minting a coin, it definitely is sort of gimmicky or silly and so is using the debt ceiling as a hostage taking technique so glad that they haven't totally ruled that out yet and use it maybe as leverage in this upcoming fight. jake, thanks so much for joining us. >> thanks, guys. >>> up next, the white house calling in the big
ABC
Jan 5, 2013 6:00am PST
with congress over the national debt ceiling. but he repeated his insistence that congress must raise the debt limit to pay for the debt they already created. when lawmakers threatened inaction on that last year, the nation's credit rating was downgraded. >> as i said earlier this week, one thing i i will not compromise over is whether or not congress should pay for the bill they have already racked up. if congress refuses to give the united states the ability to pay their bills on time the consequences for the entire global economy could be catastrophic. last time they threatened this action our entire economy suffered for t our families and our businesses can't afford that dangerous game again. >>> the republican response by michigan congressman dave camp said it's time to identify responsible ways to tackle washington's wasteful spending. he says america's credit cards are maxed out and there's no money in the bank account so the spending must stop. >>> and president obama is expected to nominate former republican senator chuck hagle of nebraska to be defense secretary. that nomina
FOX News
Jan 5, 2013 4:00pm PST
the debt ceiling without negotiations. senior affairs, white house correspondent starts with this. the president has warned congress several times not to tie the debt ceiling talks to spending cuts. is he persuading any republicans? >> doesn't look like it, shannon, because they are shaping up for another fight in a matter of weeks. technically the government ran out of money the end of the year. secretary treasure geithner said he can buy us a couple months with creative accounting moves. the president said even though he signed the legislation, its up to congress to find a way to pay for the bills it incurred. >> congress refuses to give the runs the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. the last time congress threatened this course of our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> the president said he signed a bill last year that cut $1.7 trillion from the deficit. republicans say much of that was really paper cuts, amounting from reducing -- or winding down the war in afghanistan and endin
FOX Business
Jan 3, 2013 7:00pm EST
2011 the 100th of congress in days in the debt ceiling debacle, i was just talking about. the fact of the matter is, that debacle resulted in the first-ever downgrade of this country's credit rating. just a reminder, in three weeks surrounding that fight the dow jones industrials lost, are you ready, 2,000 points on the dow. now, the republicans to attempted to do that again because it would make a point that the president, i'm begging right now, i'm begging you, come up with a different way to make your point and to seize the moment and prevail. be innovative, clever, creative, but don't mess with the debt ceiling. i'm telling -- begging you. to summarize, the legacy is nothing, zero, not. and let it please, there is something of a flashy morning for the 113th congress. please, be wise, careful, thoughtful before we head into another debt ceiling debate which history has taught all of us that you will lose in just about two months. please, be creative, thoughtful. republicans are also warning about what they're going to do about spending as well as the debt ceiling. the speaker made
MSNBC
Jan 8, 2013 12:00pm PST
ceiling negotiations demanding congress raise it without drama and says he's ready to be tough on gun control but remember the president doesn't have to worry about re-election ever again. so expect his second term agenda to look a lot like this. full of overtures to the base which criticized him over the last four years for caving to republicans. to help decipher what to expect in the next four years, we start with nbc's peter alexander outside of the white house and "the washington post" david nakamura. peter, look, you could describe the first term and the first few months since being re-elected as a confident obama. making bold cabinet picks. laying out a very ambitious agenda, adding gun legislation to the docket or you could describe it as almost confident. you know, he backed away from the susan rice pick. he gave in on taxing the top income earners at the rate he wanted. and so far he's really just tiptoed kind of cautiously around gun control. so this a confident obama based on the agenda you're seeing or a caution one? >> reporter: focusing on foreign policy, i think you
PBS
Jan 10, 2013 7:00pm PST
way to work with republicans in congress to raise the nation's debt ceiling. if he can survive that battle, global financial fights will probably seem pretty easy. darren gersh, "n.b.r.," washington. >> susie: also in washington today, new rules to protect consumers from risky home loans. the consumer financial protection bureau says the rules make sure home buyers understand exactly what they're getting into, when they take out a loan. lenders now have to determine the borrower's ability to repay the loan. borrowers will have to prove they have a job, meet a minimum credit score, and can afford a loan's monthly payments and related expenses like property taxes. the rules do away with those so- called "no doc" loans where applicants didn't provide any personal financial information, and caused the mortgage mess in the financial crisis. >> joining us now to talk more about the new mortgage rules, raj adabi, of the consumer protection bureau. raj, key rates are gone, and fewer balloon payments. how do this change the kinds of mortgages people can get now. >> it is pretty simple. going
FOX
Jan 10, 2013 5:30am EST
republican in congress say there shouldn't be any more talk of taa increases in the &pupcoming debt ceiling 3 say therr's room tt get 3 3 comiig up in our 6 ooclock hour... a moose running thattwas caught on camera. 3 the ttrpsslooking for their 14th in in a row.the second-haaf slump that led to tteir defeat. 3(((reek 3)) 3 3 coming up in our 6 o'clock &phour... allegations of pbuse... at a maryyand daycare. daycare.the unlicensed operation... reportedly being run out of a prince geerge'' county home. ççççpñpñ 3 3 meg ad-libs
CNBC
Jan 9, 2013 3:00pm EST
white house is about to enter a showdown with congress over raising the country's debt ceiling, so how does tim pact that battle with lew substituting for geithner as the main player? >> steve liesman and rick santelli tell us what they think it all means. steve, you first. you recently did, as you know that great interview with tim geithner right here on the "closing bell." how well do you know lew? >> not as well. he was at omb for a brief time, a couple years in this administration, his second go-round there. look, we're learning more about him, and i don't think there's very much mystery here. he would be picked for the job because he's a budget expert, and that also he's a loyalist inside the obama administration and in a place that values loyalty like a lot of white houses, and the question becomes does he have other critical qualifications that say wall street or the international banking and financial system would require, with the big question being, you know, if we were at a place where there was another financial crisis, how well would jack lew, as did robert ruben, hank
CSPAN
Jan 9, 2013 8:00pm EST
that they will be running out of options to avoid reaching the debt ceiling. if congress does nothing to increase the debt ceiling by then, we could be looking at a government default. even if it is not a default on our debt and the treasury says they will prioritize interest on payments, we're still looking at at a default under government obligation. that means the treasury and the government would have the ability to go out and spend money and the treasure would not have the checks to pay. that could include dod civilian, uniform civilians, on tractors -- contractors. they would expect a check and it would not show up. that would be true for the non- defense parts of the budget as well. doctors expecting a reimbursement. that is if we go into a default situation. that is a major threat to our economy. i argue that it is a threat to our national defense. every major war the united states has fought has been financed in part through borrowing. by going into a default and not being able to pay our obligations for the first time in history, we will put at risk the full faith an
FOX News
Jan 6, 2013 10:00pm PST
trying to win over american support with more public campaign style tactics. on the debt ceiling essentially the credit card limit shall the president is calling on congress to raise that ceiling without a fight. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already wracked up. if congress fuses to give the united states ability to pay for bills on time. the consequence could be sc catastrophic. the last time our families and businesses suffered for it. >> congress has about two months to fix the debt ceiling before the u.s. may have to default on some bills. >> how is that tough talk going over with republicans? >> not very well. >> republicans who agreed for the president's push for higher taxes during the fiscal cliff battle, now want to tackle spending and raising the debt limit as part of the spending problem. we want more bipartisan negotiations and less campaigning. >> and it looks like the second term of barack obama is going to be an in-your-face term. i'm not going to talk about the debt ceiling. we have yet to cut one dime from the last debt ceiling agreement and now here it's time. we've
WHUT
Jan 4, 2013 7:30am EST
. congress is facing another thorny issue this year. president barack obama wants to raise the debt ceiling, that's the limit of how much the federal government can borrow. members of congress need to reach a deal by the end of next month. >>> students who survived a mass shooting at a school in connecticut have endured a rough few weeks. they went back to class for the first time since the attack. about 400 students arrived at an unused junior high school. they are using the building at a neighboring town as their new campus. their old school remains closed. a gunman entered sandy hook elementary last month killing 20 of their school mates and six adults. the attack prompted president barack obama to push for tighter gun control. he suggests he wants to ban assault rifles and strengthen background checks. a recent poll suggests many americans still oppose a ban on the sale of assault rifles. the national rifle association carried weight across capitol hill and many republicans too are against further restrictions. >>> al jazeera has set its sights on one of the world's biggest tv m
FOX News
Jan 6, 2013 8:00am PST
be the nominee for defense secretary. congress has two months to fix the debt ceiling before the u.s. may have to default on its bills. so the president comes back from a nice vacation in hawaii, he comes back to big issues that they have to tackle. sequestration, the debt ceiling, spenning. he is enjoying his last few minutes here on the plane, taxiing and he will head back to the white house with his family. >> jamie: molly, thank you. >> can washington come up with a plan to raise the debt limit without burying the count country in more debt? we have a former spokesperson for former governor jeb bush. happy new year. justin, the president says there won't be any negotiating t. needs to be raised -- period. what do you think? >> i think it's remarkable. it's as if the election meant that president obama has been elected king. the republicans compromised on a very important principle. they didn't want to raise taxes. president obama wanted to raise taxes, they compromised. now president obama is issuing a no-compromise to the congress, to the american people -- 48% didn't rote for p
MSNBC
Jan 5, 2013 4:00am PST
and judd gregg on the debt ceiling fight. does the gop have a better plan than they did in 2011? already incurred. if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic. >> that was president obama on the next battle ahead in washington. the fiscal cliff may have been just a warmup. but february or early march, congress will have to vote on raising the debt ceiling, and the differences are not resolved, the country could see a default on the national debt and another potential downgrade on u.s. credit rating. joining me now, judd gregg, co-chair on the campaign to fix the debt. senator greg, thank you for joining me. >> thank you for having me on. >> it's a new year, new congress, but has some old problems, the debt mainly. what will happen this time? >> well, you know, the congress and the president made two efforts here that have been fairly substantive. the 2011 effort reduced discretionary spending by $900 billion and a tax increase of $960 billion, but the big elephant has not been addressed, entitleme
CNN
Jan 6, 2013 6:00am PST
, i'm not going to do any kind of negotiating over this debt ceiling. you all have spent this money, and he points to congress so you have to raise this debt ceiling. he is, and we expect him to appoint senator chuck hagel whom you know, a republican senator, to be defense secretary. he's quite controversial amongst some of your democratic colleagues but especially among republicans. what do these two stances by the president, his decision to go forward on a nomination that he knows will be controversial, and his decision not to deal with the all on the debt ceiling with the republicans. what does it tell you about president obama's tone in this second term? >> it tells me that he not only won the election but he wants to lead this country. you know, sitting back here and avoiding any confrontation and any controversy is going to make a weakened presidency. he needs to lead for the good of this nation, and we need to work together and find compromise and consensus in both political parties. chuck hagel was a republican senator from nebraska, a decorated veteran of the vietnam war, a person who has a resume that
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